广东如何构建现代化产业体系？

 

来源：全球财经连线     时间：2025-02-06 

 

岭南春早，奋楫扬帆。2月5日，蛇年首个工作日，广东“新春第一会”如约而至，吹响开工的号角。从2023年提出“再造一个新广东”的新愿景，到2024年聚焦“产业和科技互促双强”，再到2025年点题“建设现代化产业体系”，经济大省广东继续先行先试，为高质量发展再谋新篇、布新局。

广东省“十五五”发展规划专家委员会委员、中国国际经济交流中心原总经济师陈文玲接受南方财经全媒体记者独家专访时表示，连续三年举办高质量发展大会彰显了广东作为经济大省的责任与担当。“大会既是对2024年的总结，更最重要的是吹响了2025年的冲锋号。”

她补充道，“作为中国经济稳定之锚，广东的经济总量、贸易总量、创新态势、企业的竞争力，政府责任担当与作为都走在全国前列。此外，广东的市场化程度高、国际化程度高、创新能力高，也一直走在全国前列。因此，广东召开 ‘新春第一会’体现了全省上下一心向新年进发的坚定决心。” 

2024年，广东在压力中交出了地区生产总值迈上14万亿元新台阶、进出口总额增长9.8%、规模以上工业增加值增长4.2%、经营主体突破1900万户的答卷。迈入2025年，随着全球格局继续演变，以外向型经济为主的广东正在努力破局、寻找新的发展潜能，而构建现代化产业体系将成为破局的关键。

对此，陈文玲表示，未来广东构建现代化产业体系，不只要关注产业规模，更关键要优化结构，“我们不仅仅是要保持住一个经济总量、一个制造业规模，而要重点关注产业结构，结构比总量重要，结构优比总量重要，质量强比总量重要，创新能力高也比总量重要”。

 

广东在多方面引领全国发展

 

《全球财经连线》：今年是广东连续第三年开召开高质量发展大会。这释放了怎样的信号？

陈文玲：习近平总书记六次到广东，对广东提出一系列要求。我觉得召开高质量发展大会是广东贯彻落实习近平总书记对广东作为经济大省的重要要求。作为中国经济稳定之锚，广东省抢抓机遇，在春节后首个工作日连续三年都召开高质量发展大会，更像是一场动员大会、誓师大会。这也是广东作为经济大省走在全国前列的体现。 其实，广东也一直走在全国的前列，不管是经济发展的总量、贸易总量、创新态势、企业的竞争能力，还是政府的责任担当与作为。因此，这个会也预示着广东全省上下向新的一年迸发。

其实，这也是一次成果的展示。主论坛上我们听到了华为、小鹏汽车等企业分享他们的成果。此外，广东还有比亚迪、中兴通讯、大疆、腾讯、亿航等具有世界影响力的头部企业。广东是头部企业密集度比较高的地方。作为一个经济大省，我觉得广东不仅代表了已经创造的存量，更重要的是代表着中国改革开放、发展创新、突破未来。而这种未来就体现在广东的各个方面，特别是体现在每年一度的“新春第一会”。

广东高质量发展实现五大突破

《全球财经连线》：你刚刚提到了不少广东企业，那么过去三年广东经济高质量发展取得了哪些具体的成效？

陈文玲：广东是一个创业的沃土、经商的沃土、人才的沃土、创新的沃土，过去三年我觉得广东的高质量发展起码在五个方面已经取得重大突破。

第一是转型升级。广东传统产业的转型升级步伐是比较快的，不管是过去腾笼换鸟、淘汰落后生产力，还是现在不断改造提升传统制造业，变成新质生产力的组成部分，广东的转型升级始终在进行。很多传统产业实际上已经变成了新兴产业，过去传统的落后生产力已经变成了先进生产力。

比如广东的汽车产业，加入WTO前曾有很多人担忧国产汽车行业会面临冲击，但广汽等一批企业通过引进外资、技术，与日资企业合作，逐步成长为具有国际竞争力的大厂。今年，面向产业智能化、数字化、绿色化转型趋势，广汽又与华为签署合作协议，引入华为人工智能技术赋能，推动汽车这一传统产业成为新质生产力的组成部分，未来前景可期。

第二是原创技术。近年来广东在原创性研究方面取得了重大突破。目前广东已集聚一批国家队、省级队、地方队，还有企业队，以及科学家，已经形成了一种组合的力量。广东构建的“两点两廊”科技创新带已经成为广东制造业，以及贸易、教育、政府管理等多个领域，转型升级过程中非常大的助力。

第三是创新企业。这可能也是广东和其它省份相比最大的一个特点：集聚了一批具有世界级影响力的创新企业。这得益于广东宽松的现代营商环境和高度的市场化，民营企业星罗棋布。如今的头部企业，比如华为、腾讯、大疆、比亚迪、亿航等，都是从几个人、十几个人起步，在十几年间发展起来，发展速度令人惊叹。

这批头部企业是广东弥足珍贵的宝贵财产，是可增值、可复制、可延展，而且可以战斗的一个群体。在这批头部企业带动下，广东在许多领域都形成了完整的产业链和供应链，带动了大量中小企业发展，其中包括众多专精特新企业和冠军企业。这些企业也成为广东现代制造业和先进制造业的创新主体，不断地创造新质生产力。

第四是湾区协同。粤港澳大湾区作为国家定位的世界级城市群，对广东经济发展起到了重要的支撑、带动作用。目前广东辖内广佛肇、深莞惠、珠中江三大城市群与香港、澳门的联通发展，已经形成了更好的创新环境。香港有吸引人才、税收制度和连接国际市场的优势，澳门作为现代商业城市也有独特竞争力。横琴、南沙、前海三个新区各具特色，承担先行先试任务，为改革开放探路。这种格局为广东高质量发展提供了独特优势。

第五是政府改革。近年来我观察广东在政府改革方面取得了特别大的进展，包括在为企业创新创造条件等方面也做了很多工作。广东各级政府在企业服务意识、服务效率以及支撑企业发展方面的原动力还是比较强的。从这五条来看，可以说广东为高质量发展奠定了良好的基础。

 

结构优 创新能力强比经济总量重要

 

《全球财经连线》：下一步，广东应如何发力构建现代化产业体系，以保持住长期发展优势？

陈文玲：当前和未来比较长的时间里，广东构建现代化产业体系，不只要关注产业规模，更关键要优化结构。我们不仅仅是要保持住一个经济总量、一个制造业规模，更要重点关注产业结构。结构比总量重要，结构优比总量重要，质量强比总量重要，创新能力高也比总量重要。

更具体来看，现在有越来越多的科学家密集涌进中国，有的是我们的科学家回归，有的是外国科学家来到中国，他来干什么？他来参与中国创造世界奇迹，创造世界最领先的制造业水平，最领先的科技水平。广东作为经济大省，首先要承担起推进中国式现代化建设的责任与担当。

第二，要把广东的存量资源用足、用够、用好。广东是民营经济最发达、开放度最高，也是政府办事效率与企业服务能力最强的地区。此外，广东还拥有一批世界级头部企业、专精特新中小企业、冠军企业以及大量有潜力的中小创业企业。这些企业不仅是广东经济的支柱，更是未来创新的重要力量。而要充分发挥这些存量资源的作用，必须重新调整对企业的评价体系，以更好地适应未来的发展需求。

同时，未来的颠覆性创新一定是取决于人的想象力、创造力和研发能力。广东需要打造更自由的创新环境，让年轻人的思想更加奔放，消除人才的后顾之忧，将年轻人转化为创业、创新、创造的重要资源。这不仅是广东面临的挑战，也是全国高质量发展的重要课题。要积极借鉴优秀的制度与方法，避免将改革举措停留在规划和文件层面，真正把人的创造力创激发出来，这可能将对未来的高质量发展起到决定性影响。

回顾改革开放以来的发展历程，从马云、马化腾等人的互联网创业，到华为在半导体领域的颠覆性创新，再到TikTok、拼多多等平台在美国的成功，这些都体现了创新对贸易方式的深刻变革。这些平台不仅改变了传统的贸易模式，还连接了全产业链，最终服务于消费者。这种创新的贸易方式正是人类创造力的体现。广东未来要实现高质量发展，必须进一步培育创新的沃土，优化营商环境，激发人才活力，推动存量资源向创新资源转化。

第三，要进一步提高粤澳大湾区内部规则机制的对接衔接水平。要进一步打破粤港澳三地“三个关税区、三种货币、三套法律体系”的约束，实现制度、标准、规则、法律的有效对接与融合，推进粤港澳一体化发展，实现商流、物流、信息流、资本流、人员流和数据流的无障碍。将香港和澳门的优势复制、放大，形成粤港澳大湾区整体优势，带动广东乃至全国发展。未来，香港仍是中国最具优势的宝贵资源，其独特优势将继续发挥重要作用。

第四，要进一步提高人才吸引力。目前广东人才净流入量位居全国第一，说明创新创业机会多，对年轻人吸引力强。广东已形成产学研政创新联合体，但还需进一步拓展视野，不仅利用好本地企业，更要引入全国乃至全球的优秀企业与教育资源。广东要成为创新沃土，还需吸引更多人才流入。

 

机器人发展要专业化 科技化 合理化 国际化 市场化

 

南方财经：展望“十五五”，广东应该怎么去挖掘增量？比如在机器人、人工智能等新兴领域？

陈文玲：广东现在提出要推进发展具身机器人或人形机器人，在这一领域我觉得一方面要积极探索和发展，但同时也要仔细研究，避免一哄而上、盲目跟风。比如马斯克就预计到2040年全球人形机器人数量将超过人类，届时机器人售价可能降至2万美元。对此，我们还要进一步考虑具身机器人的功能与市场定位。

在发展具身机器人产业时，一方面我们在技术上要追求世界领先水平，另一方面还要更仔细研究、考虑发展节奏、规模和结构。未来推进新兴产业发展应注重精细化、专业化、科学化、合理化、国际化和市场化，更充分发挥广东的产业基础和创新优势。

 

 

 

In 2024, Guangdong submitted a report card with the regional gross product reaching a new level of 14 trillion yuan, total imports and exports increasing by 9.8%, industrial added value above the designated size growing by 4.2%, and the number of market entities exceeding 19 million households. Entering 2025, where lies the path to high-quality development for Guangdong?

Chen Wenling, the former chief economist of the China Center for International Economic Exchanges, expressed in an exclusive interview with SFC that as the anchor of China's economic stability, Guangdong leads the country in terms of economic and trade volume, innovation trends, corporate competitiveness, and government responsibility and action. Moreover, Guangdong's high degree of marketization, internationalization, and innovation capability has always been at the forefront of the country. 

Regarding this, Chen Wenling stated that in building a modern industrial system in the future, Guangdong should not only focus on the scale of industries but more importantly, optimize their structure. " The well-structured industrial system, strong innovation ability, and high-quality development is more important than the economic scale."

During the Spring Festival of 2024, China's DeepSeek, set the global stage ablaze. Chen Wenling considered that the future of disruptive innovation will surely depend on human imagination, creativity, and R&D capabilities. “We need to make our innovation environment more free, allow the minds of our young people to run wild, and ensure that talents have no worries.” 

SFC Markets and Finance: This year marks the third consecutive year the Guangdong High-quality Development Conference has been held. What signal do you think this sends?

Chen Wenling: It signals Guangdong’s historical responsibility as a major economic province. It also highlights Guangdong as China’s top economic province for nearly 40 years, serving as an anchor for the stability of China’s economy. Guangdong is seizing opportunities, on the first day after the Chinese New Year, holding this conference for three years in a row. The conference summarizes 2024, and, more importantly, it sets the tone for 2025, much like a mobilization or rallying event. Guangdong is seizing opportunities, on the first day after the Chinese New Year, holding this conference for three years in a row. The conference summarizes 2024, and, more importantly, it sets the tone for 2025, much like a mobilization or rallying event. 

With the Jingzhe solar term approaching, China’s economic recovery is underway, and in 2025, China will take an extraordinary path. Around the Chinese New Year in 2025, China continues to make groundbreaking breakthroughs. It’s truly inspiring, whether it's TikTok’s resilience in its standoff with the U.S., or DeepSeek a team of just over 100 people, using far less funding than the U.S. to create a large model with just $6 million. Huawei, after years of breakthroughs in many aspects, is teaming up with DeepSeek to reach new heights. At the conference, we heard about Xpeng Motors, and I know Guangdong is home to BYD, ZTE, DJI, Tencent, and EHang.

These leading enterprises in Guangdong with global influence, such density is high. The highest density of top enterprises and the highest density of global influence. As such an economic powerhouse, Guangdong not only represents past achievements but also symbolizes China’s reform and opening up, innovation, and future breakthroughs. This future is reflected in every aspect of Guangdong, especially in the “first meeting of the year”. 

SFC Markets and Finance: You've just mentioned a lot of Guangdong-based enterprises. So I'd like to ask you to elaborate further. Over the past three years, what specific achievements have Guangdong's economy made in terms of high-quality development?

Chen Wenling: I believe Guangdong has paved the way for China’s reform and opening up. Guangdong has always been at the forefront of reform and opening up, whether it’s the first trade deal in Guangdong’s processing trade, the first privately-owned business registered, or many other milestones. Guangdong has always led the way. It is truly a fertile ground for entrepreneurship, business, talent, and innovation. 

I believe Guangdong’s high-quality development has made significant breakthroughs in at least five areas. The first is transformation and upgrading. The pace of upgrading traditional industries has been relatively fast. Since the beginning of reform and opening up, Guangdong has continuously upgraded its industries. Whether it was in the past, shifting from outdated industries to new ones, or today, developing new quality productive forces, Guangdong has been constantly improving and transforming traditional manufacturing, integrating it into the new quality productive forces. I believe this transformation and upgrading is an ongoing process.

The second area is original technologies. Significant breakthroughs have been made in original research. In Guangdong, there are national teams, provincial teams, corporate teams, and local teams of scientists, forming a combined force. Looking at the layout in the 14th Five-Year Plan, and the upcoming 15th Five-Year Plan, Guangdong’s technological innovation will lead modern industries to the forefront of the world, and this is already visible. Guangdong’s technological innovation not only has two innovation hubs, but also two technological innovation corridors. I believe that since the beginning of the 14th Five-Year Plan, this has evolved into an innovation belt. Innovation has become a major driving force for the development and transformation of Guangdong’s manufacturing, and also for services, trade, education, and government management, as a huge boost in the process of transformation. So, I believe this is another area where Guangdong’s high-quality development has achieved great success.

The third characteristic is something very unique to Guangdong, and it might be the biggest distinguishing feature when compared to other provinces that is, the dense presence of world-class innovative enterprises. I believe the density is no accident it’s because Guangdong has a modern, business-friendly environment, a high level of marketization, and a vast number of private enterprises. If you look at the world-leading companies, they all started with just a few people or even just a handful. The speed of their growth is unimaginable. Huawei took over 20 years, Tencent also took over 20 years, DJI just a little over 10 years, BYD only about 10 years, and EHang in Guangzhou has also been around for just over 10 years. So, I think the emergence of these leading companies, with these companies acting as chain leaders has led to the formation of complete industrial and supply chains, I believe these leading enterprises are a priceless asset to Guangdong, ones that can be appreciated, replicated, and expanded.

Moreover, they are a group that can fight and thrive. In the industrial supply chains led by these top companies, a large number of small and medium-sized enterprises have been uplifted. Some of these are champion enterprises. Champion enterprises, according to the Ministry of Industry and Information Technology, are those whose sales, profits, and single products have reached the world’s top in their respective fields. We also have a large number of specialized and innovative small and medium-sized enterprises. So, I think this dense cluster of leading enterprises, specialized and innovative small and medium-sized enterprises, and champion companies forms the backbone of our modern and advanced manufacturing industry. Innovation, in my view, is driven by enterprises. So, I believe that these enterprises in Guangdong are continuously creating new quality productive forces, constantly achieving world-class breakthroughs. I think Guangdong itself is a microcosm of the entire country. While this is true for China as a whole, Guangdong stands out even more. 

The fourth point is that, as part of the Guangdong-Hong Kong-Macao Greater Bay Area, the Greater Bay Area has formed a support for province's economic strength. The nine cities Guangzhou, Foshan, Zhaoqing, Shenzhen, Dongguan, Huizhou, Zhuhai, Zhongshan, and Jiangmen are essentially three city clusters. Together with Hong Kong and Macao, these 11 cities form a city cluster that has been officially positioned in national planning as a world-class city cluster. The first is the Guangdong-Hong Kong-Macao Greater Bay Area, and then the Yangtze River Delta city cluster, and the Beijing-Tianjin-Hebei collaborative development. The key positioning in these plans is that this region should become world-class city clusters. Therefore, I believe the Greater Bay Area, with its nine cities and the advantages of Hong Kong and Macao, has already created a better environment for innovation. Hong Kong offers institutional advantages to attract talent, tax incentives, and connections to international markets, leveraging international law to open up market channels. Macao is a modern commercial city, with advantages similar to those of Hong Kong. In fact, the pilot initiatives in the Greater Bay Area are paving the way for China’s reform and opening up, breaking new ground in this new era. I believe the Greater Bay Area is also a unique advantage that enables Guangdong to guarantee high-quality development.

The fifth area where there has been significant progress is government reform. I’ve also seen that the Guangdong provincial government has made a lot of efforts to create conditions for business innovation through government reform. I feel that the Guangdong government has a strong sense of serving enterprises, with high efficiency in supporting their development. The driving force behind this is still quite strong. From these five aspects, a solid foundation has been laid for Guangdong’s high-quality development.

SFC Markets and Finance: For Guangdong, after achieving so much, the next crucial step is to build a modern industrial system. How can Guangdong exert effort to maintain long-term development advantages? 

Chen Wenling: For the current situation and for a relatively long time in the future, as Guangdong aims to build a modern industrial system, I believe the first requirement is to have the breadth of mind, ambition, sentiment, and responsibility of a major country. 

In terms of the global manufacturing industry, China already accounts for one-third, which is the total of the three major economies of the United States, Japan, and Europe. According to predictions from international organizations, by 2035, China's manufacturing industry will account for 45% of the world.

Now, it's not just about whether the scale is large; the key is the quality of the structure. Higher requirements have been set, which are to regard high-quality development, the cultivation of new quality productive forces, and the advancement of Chinese-style modernization as Guangdong's primary historical mission. It is not about maintaining the economic total volume of a large province or the scale of manufacturing. We cannot be content with this scale. Instead, it is about the structure. The structure is more important than the total volume. A strong quality, high innovation ability, and an optimized structure are more important than the total volume. So I think, as a major economic province, Guangdong should first and foremost take on responsibility and show a sense of commitment.

Secondly, it needs to fully utilize, make the most of, and manage well its existing resources. What do I mean by "existing resources"? Guangdong is the place where the private economy is most developed, where the degree of openness is the highest, where the government's working efficiency is the best, and where the government's ability to serve enterprises is the strongest. Moreover, the continuous reform of the government to adapt to enterprises is also a very precious existing resource in Guangdong.

Another very important existing resource in Guangdong except for the group of world-class leading enterprises is the specialized, refined, unique, and innovative small and medium-sized enterprises and champion enterprises. In fact, there is also a large number of small and medium-sized start-up enterprises. These start-up enterprises will become leading enterprises in the future. I think the evaluation system for enterprises needs to be readjusted.

The future of disruptive innovation will surely depend on human imagination, creativity, and R&D capabilities. We need to make our innovation environment more free, allow the minds of our young people to run wild, and ensure that talents have no worries. Therefore, this may be a very important challenge for future high-quality development: how to turn these young people into resources for entrepreneurship, innovation, and creation. 

In the future, for China to compete with other major powers, it must be willing to adopt good systems, methods, and reform measures in innovation from other countries, even from our competitors. We must ensure that these things do not merely become plans, systems, or documents, but are actually implemented. I believe that unleashing human creativity could play a decisive role in future high-quality development. For Guangdong, in terms of future high-quality development, it is crucial to further cultivate fertile ground.

Thirdly, I actually think Guangdong has done quite well, but it still needs to further integrate the Guangdong-Hong Kong-Macao Greater Bay Area, under the policy of one country, two systems, three customs regions, three currencies, and two legal systems. It is necessary to further break through these constraints and achieve effective alignment, connection, and integration of systems, standards, rules, and laws. This will truly advance the integrated development of the Greater Bay Area. In terms of business flow, logistics, information flow, capital flow, the movement of people, and data flow, barrier-free access should be realized. This will replicate the advantages of Hong Kong and Macao across the entire Greater Bay Area. The Greater Bay Area is not about integrating Hong Kong and Macao into the mainland, but rather about amplifying the advantages already formed by Hong Kong and Macao within the Greater Bay Area to create an overall advantage. As a world-class city cluster, the Greater Bay Area will drive the development of Guangdong and many more regions.

As the development progresses, first is the Greater Bay Area, then the entire province of Guangdong, and subsequently the whole country. I believe that Hong Kong, which still holds advantageous positions in China, is a precious resource for us. Its unique strengths need to continue to be leveraged.

The fourth point is about talent. The integration of industry, academia, and research in Guangdong, as well as the government and enterprises, has already formed an innovative consortium. However, I think it is still necessary to utilize the excellent educational resources from across the country for Guangdong's benefit. Because if Guangdong is to become a fertile ground for innovation, it must first attract various types of talents to flow into this region. Currently, Guangdong does rank first in terms of net talent inflow, which indicates that there are plenty of opportunities for innovation and entrepreneurship here, or in other words, it shows that young people can make a difference in this place.

SFC Markets and Finance: Looking ahead to the "15th Five-Year Plan," how can Guangdong tap into new growth areas, for example, in the fields of robotics and artificial intelligence?

Chen Wenling: I think many of the robotics and AI companies in Guangdong are not originally from Guangdong. Some have relocated from abroad, while others are established by enterprises from other provinces. For instance, Siasun Robot, which I saw in Dongguan, is actually from Jilin province.

But now Guangdong is focusing on robotics, especially the next step of developing humanoid robots.I believe on one hand, we still need to actively explore and develop. On the other hand, it may not necessarily be a rush for everyone to get involved. Elon Musk has proposed that by 2035, he aims to produce 10 billion humanoid robots. With a global population of 8 billion, that means more than one robot per person. So the price of robots might drop to around $20,000. Therefore, we need to consider what the functions of our humanoid robots will be, what their future market positioning will be, and what impact they will have on employment, family ethics, and moral sentiments. 

As we develop the humanoid robots, on one hand, our technology needs to reach the pinnacle of the world. On the other hand, what kind of structure should we develop, to what extent should we develop it, how much quantity should we produce, and should we wait a bit? For example, after Musk's large-scale promotion, whether it will produce any negative spillover effects. I believe the development of the robots needs to be refined, specialized, scientific, rational, and internationalized, and of course, market-oriented.

Manufacturing empowered by artificial intelligence, especially advanced manufacturing, is a form of penetration. It is vertical. This kind of development is a process that multiplies the wealth-creating capacity of our real economy. In contrast, the development of artificial intelligence in the United States lacks this kind of penetration into the real economy.

I believe in this regard, industries empowered by artificial intelligence, including automobiles and green energy, can create wealth. They are the real economy. Artificial intelligence can be deeply integrated with the real economy. We have the real economy. We have advanced manufacturing. We produce tangible goods. The value of these goods keeps increasing, and so does their wealth-creating capacity. So this path of scientific and technological innovation, in my personal view, not only generates a vast amount of data, but also creates new wealth.

SFC Markets and Finance: The real economy is facing quite a few difficulties at present. For example, private entrepreneurs lack confidence. How can we address this issue and restore their confidence? 

Chen Wenling: Regarding restoring confidence, I personally believe that people are not without confidence in China's economy. Confidence actually depends on the direction, intensity, and effectiveness of policy adjustments in China's economy. Since the Central Political Bureau meeting on September 26 2024, a package of incremental policies has been introduced. Moreover, the arbitrary and unlawful administrative law enforcement in some areas towards the private economy has caused psychological harm to entrepreneurs. The central leadership has also pointed out these issues in meetings. I think these matters are being rectified. In terms of local government debt and debts owed to private enterprises, I believe that as long as the government's reforms are in place, the package of incremental policies is implemented effectively, and the governance capacity of our country, especially at the grassroots government level, is up to par, and if we can follow the example of Guangdong's government in protecting, caring for, supporting, and serving entrepreneurs as the top priority of the government, I think the confidence of entrepreneurs will return. 

SFC Markets and Finance: Actually, Guangdong’s economy has confronted many challenges. Last year's growth rate was 3.5%, lower than the national average. How do you see the long-term development of Guangdong’s economy?

Chen Wenling: I think in the long run, Guangdong is the epitome of China. China's GDP has risen from an average of 19.6 % during the reform and opening-up. It's been under 7% for a couple of years, now it's down to 5%. I think that's normal because the bigger scale it gets, the less it grows. It happens all over the world. The countries can keep their GDP with 25 years of consecutive growth, are only a dozen. China's 40 years of consecutive growth is already remarkable. So from high growth to medium-to-high growth to medium growth to low growth, it’s an inevitable process.

So Guangdong as the number one economic province, its GDP growth has slowed down due to the external environment, since it’s the number one import and export province. For the U.S. trade sanctions, additional tariffs against China, and the jurisdiction for businesses and products, the first to suffer is Guangdong. Guangdong's businesses are very much affected, I think that might be the first point.

And the second point as you can see, Guangdong has contributed a lot to the country actually. For one thing, in terms of fiscal transfers, it pays relatively high taxes. And then is the support for 12 partner assistance places, Guangdong has made a huge contribution.

Thirdly, I think over the years, with the progress of the Belt and Road Initiative, companies going overseas, plus some multinationals moving out of China, mainly from the developed provinces, such as Guangdong and Jiangsu, which will also have an impact on the growth of our GDP, and the growth of our manufacturing sector.

But referring to Chinese companies going overseas, Guangdong's enterprises are at the forefront. The fact that companies going overseas inevitably leads to the GDP generated outside the country not being included in Guangdong’s GDP. The trades generated outside the country are not included. The manufacturing output generated outside the country, is not included either. I think this is another significant factor. 

In the future, when we view Guangdong’s GDP, it may depend on the GDP of Guangdong enterprises created in Guangdong, and the GDP created by Guangdong's enterprises overseas. BYD now has manufacturing bases in dozens of countries. The factory in Hungary is the biggest in Europe, and it's got no record. So, I think our epistemology of statistical methods of understanding GDP growth, the basic theories of economics, and the key indicators of good and bad economic performance are now coming to the point where they have to be adjusted.